Feb 1, 2007 15:05
17 yrs ago
11 viewers *
English term

to be in run off

English Other Business/Commerce (general)
Hi, translating some company report into Lithuanian and got stuck on the following sentence:
"The only thing missing the US – which is a closed to new business and is in run off."
Any interpretations are welcome. Thank you.

Discussion

cmwilliams (X) Feb 1, 2007:
Run-off company- An insurance company that is being wound up or otherwise not underwriting business in a particular line. It is thus letting its present insurance policies run to their expiration dates. http://www.v-leasing.com/r.htm
Ken Cox Feb 1, 2007:
OK, it's only partial gibberish. 'in run-off' seems to be a British insurance industry term, but the exact meaning isn't immediately apparent from initial googling (or even further googling...).
Alison Jenner Feb 1, 2007:
Could we have the sentence before this? (might help give a clue!)
Rasa Racevičiūtė (asker) Feb 1, 2007:
Any HELPFUL interpretations are welcome
Ken Cox Feb 1, 2007:
looks like gibberish to me

Responses

17 mins
Selected

to be on the way to some big trouble

http://www.runoffbusiness.com/Resources/ROB LloydsSupignifie...

The phrase is most often applied to businesses in insurance contexts. I am not 100% sure (and don't have time now to find out) what exactly constitutes a business in run off.

Also, your original should probably read

The only thing missing IS the US – which is [no "a"] closed to new business and is in run off
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Alexander, thank you very much, you've just confirmed my guess of the possible meaning of this messy sentense."
19 mins

Such poor English that one can only guess

As it stands, it is indeed gibberish. My guess: The only one missing is the US (not the United States, possibly some abbreviation for a company, such as United Services), which is closed to new business and is being run down (maybe it's facing bankruptcy).

Something went wrong...
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search